Summit, Portage County schools splitting $2.1 million in first casino-tax revenues

by Jeremy Nobile | ReporterPublished: January 9, 2013 1:52PM

Summit County school districts are slated to receive more than $1.62 million from the state's first distribution of tax revenue on casino profits, while Portage County schools are expected to collect more than $495,000.

The figures, released today in a breakdown by the Ohio Department of Taxation, show that roughly $38 million in total will be distributed to the more than 1,000 various educational institutions throughout the state based on population.

Private schools are excluded.

According to the Department of Taxation, the funds are to be released twice a year. The revenue comes from a 33 percent tax levied on daily gross casino revenues.

The coming disbursement, which is to be paid out by Jan. 31, will be the first allocation since Ohio's casinos in Cleveland, Columbus and Toledo have opened.

A fourth casino in Cincinnati is slated to open this spring.

According to the overall breakdown, revenue accumulates in the Ohio Casino Tax Revenue Fund, and by the 15th day following the end of a calendar quarter, money is transferred from that fund into various areas.

Ohio schools will receive 34 percent of the revenue, while 51 percent is divvied out to county governments. An additional 5 percent is allocated to casino "host" cities.

The remaining balance is split between other smaller funds. The Casino Control Commission Fund will receive 3 percent, the Ohio State Racing Commission Fund receives 3 percent, the Law Enforcement Training Fund receives 2 percent and the final 2 percent is given to the Problem Casino Gambling and Addictions Fund.

Here's a what some schools in Summit and Portage counties are slated to receive: